Billionaire Andrew Forrest’s wife Nicola wears son’s decade-old hand-me-down RM Williams

Even though her billionaire husband owns the company, Andrew Forrest’s wife isn’t taking advantage of any free RM Williams.

Nicola Forrest, the wife of billionaire Andrew “Twiggy” Forrest, has revealed she hasn’t thrown away her son’s decade-old RM Williams boots he grew out of when he was 10 years old – and she wears them.

Mr Forrest bought out the iconic Aussie brand R.M. Williams in October this year, bringing the company back under Aussie ownership, in a deal believed to be worth nearly $200 million.

Despite this, Mrs Forrest has clung on to her son’s 10-year-old pair of boots and refuses to throw them away.

RELATED: Billionaire buys R.M. Williams

The Perth-based couple have been married for 30 years. Picture: Colin Murty/The Australian

“He is 20 now and she still wears them, it’s hysterical,” their eldest daughter Grace revealed.

Grace, who heads the Walk Free initiative which is part of the Forrest’s philanthropic Minderoo Foundation, added that Mrs Forrest is passionate about the environment and avoids waste wherever possible.

Their eldest daughter Grace Forrest heads up the charitable initiative Walk Free, which is part of the Forrest’s philanthropic Minderoo Foundation. Picture: Kym Smith

The mining magnate’s wife revealed she is driven by frugality and hates waste, and she still washes and reuses ziplock bags and refrains from using cling wrap.

The mother-of-three, who has been married to Twiggy for 30 years, said she doesn’t believe in splurging their wealth.

Nicola Forrest said she doesn’t believe in splurging their wealth. Picture: Tricia Watkinson

She commented that people make assumptions about their family because of their fortune.

“People assume it’s all Hollywood and it’s really not,” she told The West Australian in an exclusive interview.

“When my kids were at school and you’d get to know the other parents bit by bit, they would say, ‘Oh, you’re just like a real person,’ and I would just say, ‘What did you think?’” she said.

Mr Forrest is one of Australia’s top 10 richest people with an estimated net worth of $15 billion.

The couple have made record-breaking donations of $400 million in 2017 and $655 million in 2019. Picture: Kym Smith

The multi-billionaire founded Anaconda Nickel, now known as Minara Resources, in 1994, before founding Fortescue Metals Group in 2003.

The philanthropic couple founded the Minderoo Foundation in 2001 and have made record-breaking donations of $400 million in 2017 and $655 million in 2019.

The foundation works to reduce disparity between Indigenous and non-Indigenous Australians. They have also put money into cancer research as well as donations to bushfire relief.

Andrew Forrest is one of Australia’s top 10 richest people with an estimated net worth of $15 billion. Picture: Kym Smith

Mrs Forrest said she and her husband reached an agreement that once they “got to a certain point” in the business earnings they would “give the rest away”.

She explained the pair were motivated by “creating opportunities” and were “very much driven” by their rural upbringings.